woensdag 1 april 2015

Chinese billionaires in takeover battle for Center Parcs

Two moguls are fighting it out for the holiday resorts operator, which has been put up for sale

Two of China’s most prominent billionaires could gatecrash a looming global takeover battle for Center Parcs, the holiday resorts operator.

Wang Jianli and Guo Guangchang are understood to be in the early stages of weighing possible offers for the company, which has been put up for sale by its owners.

Wang is China’s biggest property mogul, overseeing the Dalian Wanda shopping mall, entertainment and retail empire, which is one of the world’s largest property developers. He owns the AMC cinema chain in America, British yachtmaker Sunseeker and the Han Show Theatre in Wuhan, China (above). The 60-year-old is China’s second-richest man behind Alibaba boss Jack Ma, with a $13.2bn fortune, says Forbes magazine.

Guo is the boss of Fosun, a sprawling conglomerate, which has amassed a vast overseas empire of leisure and travel assets, including the Club Med holiday parks. In China, his business acumen has earnt the tycoon the nickname “the Warren Buffet of the East”.

Center Parcs runs five holiday villages in the UK, where holidaymakers can take part in activities from swimming to rock-climbing, and stay in luxury treehouses. Its most recent resort was opened last summer in Woburn Forest, on the Duke of Bedford’s estate, at a cost of £250m.

It is understood that Blackstone, the American private equity firm that owns Center Parcs, is trying to tempt both Dalian Wanda and Fosun into lodging bids for the company.